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I believe you are revering to a press release from Oct, 2009…see below Press release 22 October 2009 Plant Impact plc ("Plant Impact" or the "Company") Plant Impact awarded €1m research grant from EU Plant Impact plc (AIM: PIM), which develops and markets ecologically friendly crop nutrition and crop protection products, announces that a Plant Impact led consortium has been granted €1m European Union funding to develop its patented nematicide technology and a soil delivery system. The grant is in respect of the project "Non-toxic and Cost-Effective Essential Oil-based Nematicide and Soil Delivery System". The research is to be completed during 2011. The project is to provide all relevant research and commercial capabilities to deliver a marketable product. The consortium comprises of seven organisations across Europe, with Plant Impact being the nematicide technology provider and coordinator of the consortium. Approximately €300,000 is payable in respect of Plant Impact's contribution to the consortium. Pressure to increase yields from available land (especially in Europe) has resulted in the rise of practices such as monoculture and a reduction in crop rotation, providing ideal conditions for nematode survival and spread. Many of the current nematicides are being phased out because of their greenhouse gas emissions or their safety and handling profile. Plant Impact's approach aims to provide a non-toxic nematicide that can be applied in a timely and cost-effective manner without the need for soil sterilisation which results from fumigation. Following extensive networking within the EU farming communities, Plant Impact believes this solution will be welcomed over existing approaches based on four key-differentiators: As you can see, they were one of seven companies involved in the research. The object was field trials in 2011. They did them and the results were not promising. Present management decided to focus all efforts on those products that had the best chance of significant returns as soon as possible. This is exactly what they have done and are achieving. Getting into broad acre drops has been the ambition of past and present management and clearly offers the chance of exponential sales growth over the next few years. Present management should be applauded for not wasting precious and scarce resources, both human and financial , on product/s that either do not work or need vast resources to monitise them. I gather that the nematode trials effectively didn't work which would explain why they are not bothered about chasing patents…waste of time and money! If you were to bother to chat with management, I am sure they would be happy to tell you all about it. Hope you can make the investor day so you can present all these questions re. patents. I expect, as a concerned share holder, you must want some answ
PIM are dumping more patents! VERY CONCERNING. Upon closer inspection of PIMs patents, it appears they are no longer supporting many of them. I am most concerned at the moment about their decision or requirement, to dump the European nematicide patent! https://register.epo.org/application?number=EP07732791 The IP is the only thing that gives this company a value, as commercially they continue to make losses. I would wish to know every time they drop IP, as less assets = lower valuation of PIM. PIM valued thgis market at upto €20 billion, and they had a stonking great grant of €1 million euros to get this product ready for market by 2011. It is very worrying that PIM are walking away from assets as potentially valuable as this, and seem to be pursuing a one trick pony business model based on IP PIM are on public record as saying gives them no protection from competition. Why are PIM seemingly incapable of defending IP, or developing actual products and sales from any but one of their many historic patent assets?
very promising trading update today, happy with progress in Europe and Brazil. Cash balances healthy and a handy bank facility to facilitate expected growth in Brazilian orders
As this information is of some relevance to shareholders and could be construed as price sensitive. Do you not feel the BoD would have had to issue an RNS?
I can't find any information about this reported rejection, and the link in agexperts note doesn't work. Even the Lord God Google can find no other reference to EPO rejecting a patent claim by PIM. Important development if true. Can anyone else find anything to corroborate the story?
Well I cant find the link to that patent application on the EPO site!?
IMHO this seems like a good opportunity to top up with some cheaper stock - looks like I'm not the only one either ! Hopefully the traction in Brazil and the fact the product has been shown to work well will outweigh this news (if indeed it is accurate) At the end of the day it will only be business competition in the normal sense and I'm sure Bayer will lend their support to rectify the issue if necessary GLA
Hi I have followed this site for a while, and have held PIM shares for a long time, and although I divested most of them a while back I still keep tabs on them. I am a strong believer in keeping informed investments, even if this means discussing poor performance or negative news. It helps nobody just ignoring bad news, and talking things up constantly. This week has seen catastrophic news for PIM regarding the patent application for the technology that constitutes all their current sales Inca/Veritas/Amestros/Cat etc. See link below: hxxps://register.epo.org/application?lng=en&number=EP06744220&tab=doclist It seems that the EPO has completely rejected all the new claims PIM tried to add to their patent a couple of years back. PIM at the time claimed the original patent claims 'failed to protect the essence of the invention'. Worse still for PIM the EPO have also reiterated that they will reject the original claims as well leaving no patent protection at all, even the claims PIM state were inadequate. They now have four months to submit weaker claims, and hope they are passed. Reading the reports from the EPO it doesn't look good for their chances. I guess this could affect sales, likelihood of attracting partners, retention of partners, and ultimately share value. Discuss.
i can buy at 21 and sell at 20.3
Can someone tell me,why its so large.
Moving up...let's see if start of trend.
PIM - nice momentum now going forward here! on look out
http://www.plantimpact.com/news/simplot-partners-plant-impact-launch-novel-nitrogen-technology-us-turf/ PINT turf partnered and launched in the USA…..glad we got partnered, saves a bundle of cash, don't expect too much from this, but all income is good income!
http://ecoculturebs.com/http___www.ecoculturebs.com/Home.html http://www.levitycropscience.com/?page_id=14
Straightforward simple case of one person getting their foot in the door and then slowly but surely manipulating situations and people to oust others one by one until the balance of power has shifted - unfortunately it may be the case that at least one or two of the initial team may have been instrumental in the future development of the company, or more to the point its products and intellectual property, rather than cutting them adrift to steer their own path in future competition for the company (particularly whilst PIM stutters to deliver even given a head start as it is too enveloped in having a complete clear the decks exercise and relocate from its roots to a more 'desirable/fashionable location' for its new management InCa was developed, launched and commercially sucessful, effectively subsidising and financing all other products both past and current but yet now seems to be out of favour and all focus moved to its newer products at the expense of this established business - hopefully the plan works or the core business PIM has survived on so far will have disappeared under other competing products - the secret of cutting adrift the pioneer of your products is to ensure you take advantage of what you already have before they are able to develop their own products and bite you in the ass - quite clearly PIM either have been too full of themselves to deal with this or don't have the expertise (in house anyway) to continually develop newer improved products. I would guess they are now maybe shelling out fortunes on consultants and 3rd parties to get back the momentum
'It looks to me like a systematic infiltration of a company by parties that can talk the talk but not necessarily walk the walk ' your exact words! people have been sacked/resigned and people have been hired to replace them from the chairman and CEO down to junior staff……..'systematic infiltration'….NO….cold war nonsense that implies shenanigans at play The apple product has been developed and launched…Bugoil has not been launched…….two very different 'lockers'. i think we better leave it there as i think you are wrong about several things and i don't want to waste any more time in pointless discussion
Never suggested malpractice whatsoever - just stated the obvious that we don't appear to be any closer to profitability than a few years ago ! And the founders who developed and understood the original products such as InCa that gained the company a solid base and excellent margins are no longer present through whatever course (or story - 3 sides to every story don't forget, company's, employee's, and the TRUTH) We will see the results later in the year and hopefully the UK/Northern Hemisphere sales will have maintained or improved, together with the Brazil sales ! Unfortunately I fear we will find that not to be the case and these sales will have suffered significantly, for whatever reason. I for one will not accept bad weather etc etc as explanations as we have heard in the past - other suppliers of similar products are continuing to build year on year so maybe its the products, current business focus, management and board shortcomings, or maybe the remaining staff just don't understand and appreciate the products that they have in their locker Not forgetting the apple product either just keeping that in the same locker as Bug Oil until we have commercial results - just a pipe dream in the meantime and no emphasis to place on it at this point as we have seen with development products in the past Only time will tell but personally rather concerned at the lack of concrete improvement in the past 3 or 4 years along with continued and regular dilution meaning we continue to expose ourselves financially at the expense of possibly ineffective management and poor application and return for shareholder funds
'infiltration'……! strange language suggesting intrigue and malpractice whereas the reality is the old lot resigned or were sacked and a new lot has been hired. i totally disagree that 'all their eggs are in one basket'. you seem to forget that the majority of the staff are based in the UK, N.Europe, and you seem to forget the apple product that was launched at the beginning of the year. nevertheless the importance of the success of veritas in soyabean cannot be understated…..i celebrate the fact, as should all shareholders as it is intrinsic to the company's medium term success and improving shareholders' wealth. i am pretty fed up with the years of boasting about products that don't turn into commercial products, namely Bugoil and Inca potatos….a real roller coaster ride and very disappointing. these products and their supposed efficacies were researched and touted by the old management….at least veritas/soyabean trial results have been collated and presented by the new regime as well as the Bayer deal and the seemingly successful first year of commercialisation…..on their heads be this new product and its supposed sales growth
At least you appear to accept what I'm angling at - broad acre or not it was a significant crop that didn't 'come off ' as expected Not at all - it just seems on results so far the current regime are continuing the same practice (albeit more boom and bust and knee jerk rather than unrealistic and unachievable sales forecasts). At the end of the day the previous regime did get sales traction from NIL to over £1.5m and increasing year on year whereas this seems to have stagnated or worsened somewhat since they were replaced to the £1.6m for 16 months last year - this clearly has improved this year so far, but at the cost of margin, so effectively no improvement whatsoever when we are seeking break-even I would assume the Northern orders should already be visible if not being processed as we speak but I anticipate reductions again a la Egypt etc as in my opinion all emphasis has been concentrated on Brazil with the effect of having all our eggs in one basket - at least the previous regime had the back up of high margin sales in Europe as their core business when the US potato story didn't materialise I still need convincing the new regime are better than the previous one - the jury are out and have been for some time. I believe there is now only 1 member of the original team (and that being a non-exec member) in place together with only 2 further members who came in shortly before the overhaul - I understand board and management replacements but were ALL the previous staff from top to bottom (from receptionist to clerks to admin/operations staff incompetent and unable to carry out their roles) It looks to me like a systematic infiltration of a company by parties that can talk the talk but not necessarily walk the walk ! Let's hope they eventually prove me wrong for all our sakes
soya bean is the first broad acre crop PIM have been in……not potatoes…i had similar thoughts but apparently it is not broad acre. yes, they cleared out virtually everybody from the old regime and yes it cost money as you can see in the previous years accounts. the last regime was not exactly covered in glory …or do you think it was? with the receivables due in, with the beginning of the Northern hemisphere season bringing orders and revenues in, with the 'apparent' success of veritas in the Southern hemisphere which should bring in much larger orders from July onwards, I think they could probably get buy on existing cash. However, i don't think they will. The new broker/nomad suggests, to me, that there will be a placement at some stage this year; not a good idea to let the coffers run too low as you are well aware, I suggested exponential growth is possible IF all the things we have been told are true and the farmers follow through with orders….next winter and the following winter….not now!
This story appears to go around in circles every year or two without actually developing into the success story we are all hoping for Dramatic cost cutting over the last 2 years or so, presumably incurring redundancy and severance packages, then reversing the process again incurring further recruitment and agency fees ! Could we not class potatoes as pretty much a broad acre product - this was muted as the 'big thing' 3 years ago and then never materialised in its 2nd season Margins never increased in previous years as a result of dramatic increase in volume - presumably as they had already negotiated excellent purchase prices based on projected volume increases from the outset £500k cash reserves currently (approx. 3-4 months overheads at best ?!!!) down from £1.2m this time last year - looks like another fundraising may be required sooner rather than later further diluting shares and hitting the SP yet again ! Sorry for again being pessimistic/sceptical but in the absence of the 'exponential' revenue increases sooner rather than later we will be on this roller coaster for another few years at least trying to see the promised results of our investment
employment numbers were down in single figures a little over a year ago…..think they are nearer 20 now. this is the first broad acre product and , according to the company, they are hitting the predicted increase in yield numbers, hence there is potentially a massive increase in numbers. margins will improve due to volume of production
I concur with most of your points but there are some discrepancies, In the past product was manufactured in the UK and shipped to the US but still achieved much higher margins I am dubious as to whether the company is employing more people than the 17 or so it employed a few years ago Massive uplift in sales as a result of trial results and growing season yields has been prevalent throughout the company's history but never quite carried through as forecasted It is also practically impossible to ramp up the product sales price after launch and therefore unlikely that margins will improve in the future - always been a bugbear when launching their innovative products without giving them away. Premium products can command premium prices but also need to be realistically priced in order to grasp a foothold in the market
'The Company is expected to report approximately £500,000 of net cash on its balance sheet at 31 January 2014. This is a seasonal low-point for the Company, accompanied by higher than expected receivables balances related to shipment and collection timing in the first six months of the year. Net cash balances are expected to rebuild through the second half of the Company's financial year.' higher than expected receivables will account for a portion, as will the lower margins gained as product is made here and exported thus incurring greater costs. I suspect PIM has had to give Bayer a pretty good price on Veritas as well and the company is employing a lot more people these days……hence lower margins. however, the potential for exponential growth in sales is lurking….. The key part of the RNS, ' Growers who have used Veritas™ in the 2013/14 main season soybean crop are achieving value through yield increases that are consistent with our pre-launch promise.' Bayer's goal was to get their customers to plant 10% of their land with Veritas, then the farmers could see if Bayer's/Pim's claims of a %5 improvement in yield was accurate. The implication being that if the claims stood up they would roll out the use of Veritas on a much greater/all of their soyabean crop. We really are at the tip of the iceberg of Brazilian sales if Veritas is prooved up by the farmers. At the moment we are only talking about Bayer's customers in one province. And of the ones who are trying it, they have only used Veritas on 10% of their fields. The maths becomes very compelling if you think about the massive uplift in sales we could see over the next few seasons
My only concern with these interim results for the last 6 months is the apparent discrepancy between the uplift in turnover but the restricted reduction in operating loss Simply put the turnover has increased (in comparison to the prior year period) by £810k but the loss has only reduced by approx. £300k - this gives the impression that either the product margin on Veritas is significantly reduced from the previous product margins of around 70% or conversely operating overheads have increased massively (doubtful in the extreme as this has been the company's focus for the part few years) On the positive side we are moving towards profitability but hopefully the search for new business in Brazil (at possible minimal margins) hasn't been at the expense of much higher margin sales to previously established customers I appreciate the scenario of 'a small margin on astronomical revenue' as opposed to 'high margin on minimal revenue' but I would hope there is room for both in the search for continued success